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CNMV Confirms 6-Month Ban on Enel/Acciona Endesa Bid

Reuters
Tuesday, 27 Mar 2007 | 6:03 AM ET

Spanish market regulator CNMV said it had taken note of Enel and Acciona's joint takeover plan for Endesa and reiterated no bid could be made for six months.

In a statement e-mailed late on Monday, CNMV said it had taken a preliminary look at the agreement between Enel and Acciona and an appeal by current bidder E.ON against their move.

It referred investors back to the first point it made in a statement released on Friday in which it said Enel and Acciona could not launch a bid for six months after the E.ON bid ended, due on April 3.

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